Mortgage Lending in the World of Reg Reform – What’s the Current Status?

Webinar: ID# 1000596

About This Course:

The Dodd-Frank Act contains many game-changers affecting almost every aspect of banking, but perhaps no area will be as greatly impacted as mortgage lending. Some of those changes are already here – loan originator compensation and new appraisal standards, to name two. The many statutory and coming regulatory amendments will cause many lenders to question whether they should stay in the mortgage business, or if they do, to what extent. This is more than a compliance event: it is a larger, business-related decision, since the changes go far beyond just new disclosures.

Mortgage lending will become both more risky and expensive as a result. In this webinar, we'll detail the changes (both present and future) and discuss what to expect from the regulators (including the new Consumer Financial Protection Bureau).

You'll be prepared to identify what new issues your institution will face as a result.

Covered Topics:

"Qualified mortgages" – what are these? How are they really "plain vanilla" mortgages, and will you make any loans but these?

Many new prohibitions, including steering and mischaracterizations

Risk retention requirements for originators of residential mortgages – what will this do to your loan-loss reserves and bottom line?

UDAAP: the new standard, including practices that might be considered "abusive"

Combined disclosures under Reg. Z and RESPA – better than before, or be careful what you wish for?

More data elements to be reported under HMDA and increased fair lending risk

Who will enforce the new rules – the Consumer Bureau? Your prudential regulator? How many players are in the game?

SAFE Act impacts – the Registry, where to list identifiers, and more

The "ability to repay standard" – what is this and how is it met?

Required escrows

Changes to high-cost mortgage loans, including a lower threshold

New appraisal requirements under both FIRREA, TILA, and ECOA; plus the end of the HVCC

We'll also provide ample opportunities for questions and answers.

Who Should Attend?Anyone in your institution that has anything to do with residential mortgage lending will benefit from this information, including loan officers, underwriters, credit officers, senior management, compliance officers, counsel, originators, and others.

The PresenterCarl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.